Frontier Housing Inc
- Assets
- $17.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Morehead, KY
- Founding
- 08/1975
- Data as of
- 03/2023
- EIN
- 61-0863958
Organization Overview
Frontier Housing Inc is located in Morehead, KY. The organization was established in 1975. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 03/2023, Frontier Housing Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frontier Housing Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Frontier Housing Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $2.4m during the year ending 03/2023. While expenses have increased by 7.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FRONTIER HOUSING PROVIDES AFFORDABLE HOUSING OPPORTUNITIES TO BUILD BETTER COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMEOWNERSHIP CREATION: FRONTIER HOUSING INVESTED OVER 3.1 MILLION IN OUR COMMUNITIES THROUGH THE CREATION OF NEW HOMEOWNERS. WE SERVED OVER 50 FAMILIES WITH A HOUSING SOLUTION THAT LED THEM TO PURCHASING A NEW HOME. WE BUILT AND FINANCED 9 NEW HOMES. HOMEBUYER EDUCATION AND COUNSELING: FRONTIER PROVIDED HOMEBUYER EDUCATION AND CREDIT COUNSELING FOR OVER 200 HOUSEHOLDS IN PREPARING THEM TO BECOME HOMEBUYERS. HOME REHABILITATION: FRONTIER REHABILITATED 10 HOMES TO EXISTING HOMEOWNERS IN OUR SERVICE AREA. RENTAL HOUSING: FRONTIER OWNED AND OPERATED 47 RENTAL UNITS PROVIDING AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Manning-Beavin President/ce | Officer | 40 | $0 |
Ann Ballard Vice Chair | OfficerTrustee | $0 | |
Christine Brewer Board Member | Trustee | $0 | |
Dorothy Clemons Board Member | Trustee | $0 | |
Ezra Dike Board Member | Trustee | $0 | |
Wes Holland Secretary | OfficerTrustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barry Cox Hvac Construction | 3/30/23 | $144,522 |
Warren Electric Construction | 3/30/23 | $132,647 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $899,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $981,809 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,881,707 |
| Total Program Service Revenue | $0 |
| Investment income | $94,800 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $207,719 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $184,739 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,520,311 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,916 |
| Pension plan accruals and contributions | $65,855 |
| Other employee benefits | $15,802 |
| Payroll taxes | $17,469 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $231,184 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,205,034 |
| Advertising and promotion | $22,135 |
| Office expenses | $54,861 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $165,439 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $78,887 |
| Interest | $90,405 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,070 |
| Insurance | $17,274 |
| All other expenses | -$19,098 |
| Total functional expenses | $2,444,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,755,122 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,028,458 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,280,761 |
| Inventories for sale or use | $3,114,381 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,478,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,000 |
| Intangible assets | $0 |
| Other assets | $132,146 |
| Total assets | $17,790,104 |
| Accounts payable and accrued expenses | $300,428 |
| Grants payable | $0 |
| Deferred revenue | $206,715 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $51,530 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $5,820,599 |
| Other liabilities | $880,610 |
| Total liabilities | $7,259,882 |
| Net assets without donor restrictions | $6,204,900 |
| Net assets with donor restrictions | $4,325,322 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,790,104 |